Employee Benefit Trust Minutes - 02/28/2001Present:
CITY OF WICHITA FALLS
EMPLOYEE BENEFITS TRUST MEET
February 28, 2001
CITY CLERK'S OFFICE
Date �3" IJ4` UI
�V RC Time a��D�m
Greg Humbach, Chair
James Berzina, City Manager
Jim Dockery, Director of Finance
Jan Stricklin, Director of Administrative Services
Gail Garmon, Employee Benefits Coordinator
The meeting was called to order by Greg Humbach at 9:30 AM.
Mr. Humbach made a motion to accept the minutes of the last
meeting with no corrections.
Motion was seconded by Jan Stricklin. Motion carried.
Agenda Items•
Financial Statement:
The Financial Report for March 16, 2000 through February 26,
2001 was presented by Gail Garmon. The report showed a
beginning balance of <$484,860. >, Deposits of $6,901,182.,
Claims and Expenditures of $4,823,460., with an ending
balance of $1,597,471.. She noted that the deposits included
approximtely $200,000. in reimbursements from the stop loss
carrier for claims in excess of the $125,000.00 specific
limit.
Jim Dockery also gave a financial report showing a projected
ending balance for the current year of $330,000. on the high
side and $80,000 on the low side, plus the $68,000. that was
in the fund at last year's end. He noted that with current
expenditures about $50,000 ahead of last year and revenues
ahead by $300,000., the fund appears to be on target.
Ratification of Stop Loss Plan
Jan Stricklin called for ratification of the new stop loss
contract with HCC Benefits (formerly U.S.Benefits) . It was
noted the rates for the new year are higher than last year;
a direct result of the number of stop loss claims filed with
them for the previous year. There was some discussion as to
whether or not the aggregate portion of the plan (at a cost
of approximately $24,000. per year) is necessary.
Motion to approve the stop loss contract was made by Greg
Humbach and seconded by Jim Dockery. Motion carried.
New Business
Ms. Stricklin gave a report on the new prescription coverage
through Eckerd Health Services. She outlined the
differences between EHS and Advance Paradigm, the former
carrier. She noted that the projected savings under the EHS
plan is $30 to $60,000. the first year.
Old Business
There being no old business the meeting was adjourned at
10:35 AM.
Respectfully submitted,
Jan Stricklin
Director of Administrative Services